NAPLES, FLA. — McDowell Housing Partners (MHP) has broken ground on Ekos Creekside, a 160-unit affordable housing community in Naples reserved for families earning between 30 and 80 percent of area median income. The $63 million development is backed by a variety of financial partners and stakeholders. Collier County owns the land and has entered into a long-term ground lease agreement with MHP.
Financing sources include tax-exempt bonds from the state, a construction loan from Fifth Third Bank and permanent financing via Barings. MHP raised equity for the development through the syndication of 4 percent Low-Income Housing Tax Credits to CREA, LLC.
The development team includes DeAngelis Diamond as the general contractor, FK Architecture as the architect of record, and Davidson Engineering as the civil engineer. Ekos Creekside is expected to be completed in the second quarter of 2027.